Armenian president says no inflation surge from country’s joining customs union

Armenian president says no inflation surge from country’s joining customs union

YEREVAN, February 14. / ARKA /. Armenia’s president Serzh Sargsyan brushed off speculation that Armenia’s upcoming membership in the Russia-led Customs Union would spur inflation during a meeting with senior officials of the urban development ministry today. He said there would be no inflation hike no matter whether Armenia joins the trade bloc or not.

In response to a question on imminent rise in prices of many imported goods the president said that prices of some goods would fall, while prices of some others may rise, but he ruled out a jump in inflation.

In 2013 inflation was 5.8%, almost within the projected band of 4 % (± 1.5%). The same projection is made for 2014.

Sargsyan reiterated that the membership in the Customs Union stems from the interests of the Armenian people and that it is not only about economy. 

The president also urged government agencies to deny any speculation about imminent hikes in prices emanating ostensibly from Armenia’s accession to the Customs Union by explaining its benefits. -0-

18:47 14.02.2014

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